BULLISH Play Updates

Ameron Intl. - AMN - close: 74.74 change: +1.08 stop: 70.95

AMN delivered a nice bounce today but I'm not suggesting new positions. More conservative traders may want to up their stops toward $72.00 or $72.50 or just exit completely. AMN has already exceeded our first target at $74.70. Our second and final exit target is $79.50.

Entry on      July 16 at $70.50 *triggered       
Change since picked:     + 4.24
                              /1st target hit @ 74.70 (+5.9%)
Earnings Date          09/21/09 (unconfirmed)    
Average Daily Volume:       150 thousand
Listed on  July 15, 2009    


America Movil - AMX - close: 45.62 change: +0.62 stop: 37.95

AMX posted another gain for the week with a 1.3% rise. The close over $45.00 is definitely bullish but we don't want to chase it. I am suggesting readers buy AMX on a dip in the $40.50-40.00 zone (a minor adjustment from the weekend update). We'll use a stop loss at $37.95. Our first target is $44.50. Our second target is $47.40. Our time frame is four to six weeks.

Entry on    August xx at $xx.xx <-- TRIGGER @ 40.50
Change since picked:     + 0.00   			
Earnings Date          07/21/09 (confirmed)    
Average Daily Volume:       4.3 million 
Listed on  August 01, 2009    


Aegean Marine Petrol. - ANW - close: 18.49 change: +0.52 stop: 16.25 *new*

Target achieved. It was a strong day for ANW. The stock broke through resistance near $18.00 and its 200-ema. The high was $19.04. Our first target to take profits was $18.20. I am raising our stop loss to $16.25. Our second target is $19.75.

chart:

Entry on      July 29 at $16.50 *triggered      
Change since picked:     + 1.99
                               /1st target hit @ 18.20 (+10.3%)
Earnings Date          08/12/09 (unconfirmed)    
Average Daily Volume:       284 thousand
Listed on  July 18, 2009    


Bank of America - BAC - close: 15.64 change: +0.32 stop: 12.45

Financials continue to lead the market higher. BAC gained another 2%. Nothing has changed for us. We don't want to chase this move. Our plan is to buy BAC on a dip at $13.70. If triggered our first target is $15.75. Our second target is $17.90. The Point & Figure chart is bullish with a long-term target at $31.00.

Entry on    August xx at $xx.xx <-- TRIGGER @ 13.70
Change since picked:     + 0.00   			
Earnings Date          07/17/09 (confirmed)    
Average Daily Volume:       310 million 
Listed on  August 01, 2009    


Hormel Foods - HRL - close: 36.33 change: +0.21 stop: 34.75

HRL gained 21 cents for the second day in a row. The stock is challenging very short-term resistance near $36.50. I'm not suggesting new positions at this time. Our first target is $37.90. Our second target is $39.90. My time frame is mid to late August because we need to exit in front of earnings. FYI: The Point & Figure chart is very bullish with a $50 target.

Entry on      July 20 at $35.40 /gap higher entry
                              /originally listed at $35.25
Change since picked:     + 0.93   			
Earnings Date          08/20/09 (confirmed)    
Average Daily Volume:       486 thousand
Listed on  July 20, 2009    


IDEX Corp. - IEX - close: 28.25 change: +0.27 stop: 24.75

IEX is breaking out past resistance near $28.00. More aggressive traders may want to chase it with a tight stop. I'm suggesting readers wait for a correction.

We want to use a trigger to buy IEX at $26.10 but readers could use a $26.25-25.00 zone as an entry range. The Point & Figure chart is bullish and points to a $39.00 target. If we are triggered near $26.00 our first target is $29.85. My time frame is six to eight weeks.

Entry on      July xx at $xx.xx <-- see TRIGGER  
Change since picked:     + 0.00   			
Earnings Date          07/20/09 (confirmed)    
Average Daily Volume:       570 thousand
Listed on  July 25, 2009    


J.P.Morgan Chase - JPM - close: 40.21 change: +0.61 stop: 34.45

Financials were the leadership group today. JPM closed above $40 for the first time since November 2008. The stock is just growing more and more overbought. We may want to raise our trigger to buy a dip toward $36.00 but for now the plan is unchanged with a trigger at $35.50. We'll change the first target to $39.50.

Entry on      July xx at $xx.xx <-- see TRIGGER  
Change since picked:     + 0.00   			
Earnings Date          07/16/09 (confirmed)    
Average Daily Volume:        55 million 
Listed on  July 18, 2009    


Morgan Stanley - MS - close: 30.07 change: +0.76 stop: 26.45 *new*

The rally in MS continues and the stock has broken through resistance in the $29.35-29.50 zone. We had a trigger to open small positions (1/2 normal size) at $29.50. Our first target is $31.50. Our second target is $34.50. Our stop loss is now $26.45.

chart:

Entry on    August 04 at $29.50 *triggered (1/2 position)  
Change since picked:     + 0.57   			
Earnings Date          07/22/09 (confirmed)    
Average Daily Volume:        24 million 
Listed on  July 23, 2009    


Microsoft - MSFT - close: 23.77 change: -0.06 stop: 21.80

Nothing has changed for us. Today's action in MSFT looks like yesterday's with a lot of sideways movement in a narrow range. I don't see any changes from my weekend comments.

More aggressive traders could buy dips near the rising 50-dma. I'd prefer to wait for a dip near support around $22.00. More aggressive traders may want to widen their stop loss to under $21.00 or under $20.00 depending on your risk tolerance. Our ten to twelve week target will be $27.75.

Entry on      July 27 at $23.00
Change since picked:     + 0.77   			
Earnings Date          07/23/09 (confirmed)    
Average Daily Volume:        58 million 
Listed on  July 23, 2009    


UltraShort NASDAQ - QID - close: 26.06 change: -0.01 stop: 25.35 *new*

The QID only lost a penny on the session but we're on the verge of getting stopped out. Stocks continue to defy gravity and the NASDAQ and NDX challenged their highs from last week and then trimmed their gains. Is this a top for stocks and a short-term bottom for the QID? Maybe, but if the market can mount any sort of rally tomorrow we'll probably get stopped out in a heartbeat. Please note that to give this play just a little more breathing room I'm moving the stop loss to $25.35. If we get stopped out it's a 4.8% loss.

We knew this was a very aggressive, counter-trend trade and suggested very small position sizes. At this time I'd wait for a move over $27.00 or 27.50 or even $28.00 before considering new positions.

Entry on      July 30 at $26.63 
Change since picked:     - 0.57   			
Earnings Date          00/00/00 
Average Daily Volume:      23.9 million 
Listed on  July 30, 2009    


Grupo Televisa - TV - close: 18.25 change: -0.05 stop: 17.24

Shares of TV managed to bounce from the $18.00 level this morning but nothing has changed for us. We want to buy a breakout but the trigger is still at $18.60. If triggered our first target is $19.95. Our second target is $21.45. The Point & Figure chart is bullish with a $25 target.

Entry on    August xx at $xx.xx <--  TRIGGER @ 18.60
Change since picked:     + 0.00   			
Earnings Date          07/16/09 (confirmed)    
Average Daily Volume:       2.2 million 
Listed on  August 01, 2009    


BEARISH Play Updates

Biogen Idec Inc. - BIIB - close: 48.61 change: +0.25 stop: 50.05

Biotech stocks continued to bounce today. Readers may want to watch for a failed rally in the $49.00-50.00 zone as a new entry point for bearish positions. Our first target is $43.00. Our second target is $40.50. My time frame is four to six weeks.

Entry on      July 30 at $47.36 
Change since picked:     + 1.25   			
Earnings Date          07/16/09 (confirmed)    
Average Daily Volume:      3.28 million 
Listed on  July 30, 2009    


CLOSED BULLISH PLAYS

Aeropostale - ARO - close: 36.15 change: -1.74 stop: 35.95

Something happened to ARO midday. The stock was hovering around $37.70 around lunchtime and then just plunged over $2.00 in the next two hours. Volume came in strong as investors started selling. I couldn't find any specific news to account for the weakness but a lot of the apparel stocks were down today. Our aggressive trade didn't last very long. We were stopped at $35.95. The plan was to use smaller than normal position sizes due to the higher-risk nature of the trade.

chart:

Entry on    August 03 at $37.89 
Change since picked:     - 1.94 <-- stopped @ 35.95 (-5.1%)
Earnings Date          08/20/09 (unconfirmed)    
Average Daily Volume:       2.6 million 
Listed on  August 01, 2009    


Electronic Arts - ERTS - close: 21.89 change: +0.34 stop: 20.49

Our time has run out for ERTS. The plan was to exit today at the closing bell. Earnings were after the bell. Wall Street expected a loss of 13 cents per share. The company managed to beat that by 11 cents. Yet after an initial pop the stock is trading down after hours.

chart:

Entry on      July 28 at $21.10 
Change since picked:     + 0.79 *exit early ahead of earnings*
Earnings Date          08/04/09 (confirmed)    
Average Daily Volume:       6.5 million 
Listed on  July 28, 2009    


Ross Stores - ROST - close: 42.14 change: -1.58 stop: 42.49 *new*

Something happened to the retail stocks today but I couldn't find the news to account for the sell-off. Some analyst probably shared their concerns over the back to school shopping season. ROST started the day off poorly and quickly hit our stop loss at $42.49.

chart:

Entry on      July 13 at $41.60 
Change since picked:     + 0.89 *stopped out @ 42.49 (+2.1%)
                              /1st target hit @ 45.75 (+9.9%)
                              /sell half @ 44.00 (+5.7%)
Earnings Date          08/20/09 (unconfirmed)    
Average Daily Volume:       2.4 million 
Listed on  July 13, 2009